A 14-year-old art prodigy’s non-friable object (NFT) painting has fetched nearly $23,000 at auction. The artist has donated the proceeds to students affected by the COVID-19 pandemic.
Xeo Chu, a painter from Vietnam, raised more than VND500 million (VND) after auctioning his painting Lucky Apricot Blossoms on Binance. The work reportedly sold for 22,899 Binance dollars (BUSD).
The funds raised were used to assist vulnerable university students in the COVID-19 pandemic. More specifically, the artist donated 20 laptops and 10 scholarships to seniors.Xeo Chu made these donations through VietSeeds, a nonprofit organization whose mission is to provide equal opportunities for college education in Vietnam.
This isn’t the artist’s first effort to help those affected by the pandemic. Back in July, Xeo Chu held an online exhibition called “Pandemic Paintings.” This exhibition raised funds to aid frontline workers of COVID-19 in Ho Chi Minh City (HCMC).
NFTs sold for a good cause
This year, NFTs have taken the world by storm, finding their place in most branches of lifestyle, including arts, entertainment and sports. While in many cases, NFT collections were launched to commemorate or merchandise, some were also launched to support a good cause. Much like Xu Chu’s paintings.
For example, Michelle Phillips, lead singer of iconic ’70s folk-rock band The Mamas & the Papas, auctioned off original NFT artwork in June. It was a fundraiser for the Painted Turtle charity, which sets up free camps for children with serious medical problems. ViciNFT, which manages Phillips’ auctions, requires all of their NFT auctions to have a charitable basis.
Even earlier this year, the leading business magazine Forbes auctioned off an NFT cover for charity. As they claimed at the time, it was a first for the publishing industry.The NFT depicted cryptocurrency industry leaders Tyler and Cameron Winklevoss, and their NFT platform, Nifty Gateway, hosted the auction. In the end, the auction raised more than $300,000 for two journalism charities. Namely, the Committee to Protect Journalists (CPJ), which was created to promote press freedom worldwide; and the International Women’s Media Foundation (IWMF), which works to support, protect and recognize the role of women journalists.
Recently, even BeInCrypto jumped on the NFT charity train. To celebrate its third anniversary, BeInCrypto will be casting and auctioning off nine new NFTs to benefit the Open Earth Foundation. These NFTs will be accompanied by an article from a cryptocurrency expert and digital artwork from the Exquisite Workers project.